So as I said yesteday there was kind of a bull trap. Indeed ones BTC reached the 0.236 FIB level It acted as a natural resistance, now the 0.5 FIB retracement is the support, a good one it seems to be. So What I see is a wedge forming between the descending trending line, and the ascending trending line formed since the low low at 9500 reached at mid January. So, if it keeps moving forward it may get into an ascendgind triangle zone. Remember how 11700 acted as a bear friend for like 3 times in a row, it may be the fourth time and may fail!
But as always, there are the chances that the good bear friend resist the bull attack and there we will have a brand new scenario guys!
So trade with caution. A good signal of bull trend would be surpassing with enough volume (like 3000 to 5000 BTC/HOUR) the 0.236 FIB resistance and further confirmation will be if a 3 Hour candle stick close above that level.
I'm still postivie! Hope you are too!
Salutes!
But as always, there are the chances that the good bear friend resist the bull attack and there we will have a brand new scenario guys!
So trade with caution. A good signal of bull trend would be surpassing with enough volume (like 3000 to 5000 BTC/HOUR) the 0.236 FIB resistance and further confirmation will be if a 3 Hour candle stick close above that level.
I'm still postivie! Hope you are too!
Salutes!
